New Mexico Corrections Dept. | 1633 N Prince St
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New Mexico Corrections Dept. 1633 N Prince St
4,800 SF Office Building Clovis, NM 88101 $1,200,000 ($250/SF) 6.26% Cap Rate
Investment Highlights
- Long term lease in place
- Tenant-State of New Mexico Corrections Department (Probation Office)
Executive Summary
Prime investment opportunity. Tenants in place with the initial term of the lease for: 5-years; beginning on July 1, 2019 and terminating on July 30, 2024. 3 - 5-year options to renew lease.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Building Size
4,800 SF
Building Class
C
Year Built
2008
Price
$1,200,000
Price Per SF
$250
Cap Rate
6.26%
NOI
$75,154
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,800 SF
Building FAR
0.23
Lot Size
0.48 AC
Zoning
MD
Parking
20 Spaces (4.17 Spaces per 1,000 SF Leased)
About 1633 N Prince St , Clovis, NM 88101
Great investment for 1031 Exchange. Tenant in place, NM Probation Office. New lease started July 1, 2019 for 5 Years with three 5-year options.
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Walk Score ®
Very Walkable (77)
PROPERTY TAXES
Parcel Number | 121201101040300 | Improvements Assessment | $150,192 |
Land Assessment | $21,840 | Total Assessment | $172,032 |
PROPERTY TAXES
Parcel Number
121201101040300
Land Assessment
$21,840
Improvements Assessment
$150,192
Total Assessment
$172,032
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New Mexico Corrections Dept. | 1633 N Prince St
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